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Indicators of economy in Saint Vincent and the Grenadines

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Saint Vincent and the Grenadines reached 7.278 US dollars per inhabitant, or 807.47 m US Dollar in the whole country. Saint Vincent and the Grenadines is currently at number 198 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant taking into account the purchasing power parity, then Saint Vincent and the Grenadines is in the list of the world's richest countries in place 100.

Inflation in Saint Vincent and the Grenadines was in 2020 at around -0.63%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 35.0% lower.
The Corruption Perceptions Index for the public sector counts 59 and is compared to other countries moderate.


Back to overview: Saint Vincent and the Grenadines

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in Saint Vincent and the Grenadines in 2020 decreased moderatly from 825.04 million US Dollar to 807.47 million US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 2.1% is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 67 percent. The unemployment rate rose from 19.3 to 21.0 percent. The inflation rate has fallen from 0.9 percent previously to -0.6 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Saint Vincent and the Grenadines
Total
Saint Vincent and the Grenadines
per capita
EU
Total
EU
per capita
GDP807.47 m USD7,278.02 USD15,291.93 tn USD29,692.11 USD
Gross national product810.79 m USD7,307.93 USD15,330.84 tn USD29,767.66 USD


Development of gross domestic product in million US Dollar 1960 - 2020



Im- and Exports 2020

 Saint Vincent and the Grenadines
Total
Saint Vincent and the Grenadines
per capita
EU
Total
EU
per capita
Imports353.49 m USD3,186.12 USD7,340.01 bn USD14,251.98 USD
Exports168.01 m USD1,514.33 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in million US dollars 1978 - 2020

Exports
Imports



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